The Swedish carmaker Volvo will invest $500 million to increase its sales. Under the plans announced on Monday, Volvo will invest this amount in its first US assembly plant. Volvo is talking with many US states in order to finalize the location of the plant. Chief Executive Hakan Samuelsson said this prior to making the announcement. Production will start in 2018.
According to Håkan Samuelsson, chief executive and president, “The US is an absolutely crucial part of our global transformation and today’s announcement makes it perfectly clear that Volvo is in the US to stay”.